Latest News- External Hard Disk Market: Personal computers is expected to lead the Application segment during 2025-2029

The External Hard Disk Market is being driven by Multiple advantages of external hard disks

The External Hard Disk Market is expected to grow at a CAGR of 6.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3762.4 million. In today's market, wireless external hard disks have gained significant traction among individual consumers due to their portability, built-in battery, and embedded Wi-Fi networks. These devices offer the convenience of wireless connectivity to various devices such as smartphones, tablets, PCs, and laptops. Despite being slightly bulkier than traditional external hard disks, the absence of the need for additional wiring makes wireless external hard disks a highly desirable option. Notable brands offering wireless external hard disks include Asus Travelair N, LaCie Fuel, Western Digital My Passport Wireless Pro, and Seagate Wireless 500GB Mobile Storage. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Personal computers
  • Enterprise applications
• Type
  • Network-attached storage
  • Portable
  • Desktop
• Distribution Channel
  • Offline
  • Online
• Geography
  • APAC
    • Australia
    • China
    • India
    • Japan
    • South Korea
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Multiple advantages of external hard disks
• Growing popularity of external SSDs
• Reduction in ASP of NAND flash memory

However, the market also witnesses some limitations, which are as follows:

• Emergence of cloud storage services
• Poor latency and endurance
• Risk of theft and damage

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Market Scope in External Hard Disk Market Research Report

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Research Analysis Overview

The External Hard Disk Market encompasses various aspects, including drive enclosures, interface speeds, read/write speeds, data transfer rates, storage reliability, data integrity, data redundancy, and drive longevity. Other essential factors are data recovery software, file system compatibility, drive health monitoring, and diagnostics. Drive failure prediction, replacement, data backup software, and data synchronization software are also crucial. Cloud backup services, data sharing, remote access, file sharing, and collaboration tools are important features. Mobile apps, encryption algorithms, data compression, data deduplication, drive firmware, drive performance, power consumption, noise levels, temperature, and vibration are additional considerations.

Market Research Overview

The global electronics market encompasses various sectors, including communications equipment, technology hardware and peripherals, and electronic components. Within the technology hardware and peripherals segment, the demand for portable storage solutions, such as external hard disks, continues to grow. These devices cater to essential functions like data backup, file transfer, and data recovery, making them indispensable for businesses and individuals. The global electronic components market is anticipated to expand significantly due to the increasing deployment of Internet of Things (IoT) devices, which require an extensive range of components, including connectors, capacitors, resistors, and printed circuit boards (PCBs). The market's growth is further fueled by the need for enhanced data security and the continuous advancements in technology.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/